Quote from: FrueGreads on February 07, 2018, 11:14:37 AM

Quote from: summer888 on February 05, 2018, 10:17:05 AM

Everyone will say scarcity is expensive, the gold is scarcity the same as the bitcoin.
I can't find the reason from the gold valuable.
It can't do anything worth thing...

When it comes to usability, I would say that bitcoin has far more potencial than gold. Since it's digital, it can be easily used for payments because you can sell fractions of it in a simple manner. It's even more secure than gold, because unlike gold, it can't be faked. Not everyone can easily detect if the gold they are getting is not fake, and you can't say that about a bitcoin. If it's verified by the network, then it's a real bitcoin. Bitcoin is easily stored as well. So yes, when it comes to payments, and since you can't walk around with a gold bar, and break it in pieces to buy things that cost only a fraction of your gold bar cost, then BTC is better than gold.

Don't forget though that gold has other use cases, and that is what gives it value. Gold is used in industry, and bitcoin can only be used for payments. It only has one function but has the potencial to be really good at the single function. Gold on the other had has multiple functions and that's why it continues to be valued during all these years.

I don't think that one has to compete with the other, and both are valuable.

Thus gold still has the value in the future? In the economic development nowadays, the gold value will be smaller and smaller. Instead, maybe there will appear the new cryptocurrency like bitcoin.